toastturtle
1 week ago
Cruz Battery Metals Acquires the Central Clayton Valley Lithium Brine Project in Nevada Completely Surrounded by SLB’s Property
Vancouver, B.C. – January 10, 2025 – Cruz Battery Metals Corp. (the “Company” or “Cruz”) (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A40YSN) announces it plans to acquire, from arm’s length vendors, the 580-acre ‘Central Clayton Valley Lithium Brine Project’ located in the heart of Clayton Valley in Esmeralda County, Nevada, USA. This new project consists of 29 claims completely surrounded by SLB’s (formerly Schlumberger Limited) Clayton Valley lithium brine project. Cruz will now have a footprint of 820 acres prospective for lithium brine in Clayton Valley, Nevada. This acquisition is subject to all regulatory approvals.
James Nelson, President of Cruz, commented “We believe there are several reasons why the Central Clayton Valley Lithium Brine Project has potentially major upside value. These claims are located with access to the deepest part of the Clayton Valley lithium brine basin in Esmeralda County, Nevada, and are completely inside of SLB’s (formerly Schlumberger) claims. We are very pleased to acquire this project at a time when SLB has successfully completed the 100% earn-in of Pure Energy Ltd.’s Clayton Valley lithium brine project and has recently demonstrated successful ongoing, high purity direct lithium extraction (DLE) production from this basin. In addition, the incoming Trump administration brings with it a lot of ‘Made in America’ sentiment. It’s clear that a reduction of USA reliance on foreign resources will be a priority for the Trump administration. We believe this will provide a tail wind in the demand for domestic lithium production. As Albemarle’s Clayton Valley Lithium Brine operation is currently the only lithium production in North America, we see this opportunity as a potential major catalyst for other lithium players to build up a domestic resource with what will be seemingly less regulatory restrictions and political red tape to go through. Management is excited as we enter a period of increased corporate activity in 2025 and the potential growth this year may bring for Cruz shareholders.”
According to a CNBC article dated January 2, 2025, China’s push to develop its own electric cars hit a tipping point in July, with the share of new energy vehicles sold accounted for more than half all passenger cars sold that month, according to the passenger car association. New energy vehicles include battery-only and hybrid-powered cars. The trend persisted through November, which saw a penetration rate of 52.3%, according to association data.
On January 3, 2025, GM announced that for the fourth quarter, sales were up 21% from the year-earlier period. Electric vehicle sales jumped 50% for the quarter and 125% for the year, roughly doubling our market share over the course of the year. GM was the #2 seller of EVs in the U.S. across the second half of 2024.
Mr. Nelson went on to say, “Despite the ferociously negative sentiment around lithium and EV’s over the last two years, the recent data clearly shows that EV sales are increasing and the momentum for EV sales globally is in fact strengthening, not weakening. Therefore, we feel domestically sourced lithium projects in 2025 will garner significantly more market interest than the previous two years.”
Announced on September 11, 2024, Pure Energy Minerals Ltd.’s partner, SLB, has now completed a comprehensive technology demonstration and testing program as required to earn-in to the company’s 100-per-cent-owned Clayton Valley lithium brine project (CV project) in Esmeralda County, Nevada.
Pure Energy and SLB formed a partnership in May, 2019, which provides for SLB to design, permit, develop and build a state-of-the-art pilot plant for direct lithium extraction (DLE) of lithium brines from the Clayton Valley property. The sustainable lithium demonstration plant, operated by SLB, currently is producing lithium carbonate (Li2CO3) product, a direct component of lithium batteries in mobile phones, electric vehicles and energy storage.
SLB has demonstrated completion of specific technical milestones to qualify the earn-in to 100-per-cent ownership of the CV project, which include continuous production of lithium carbonate for an extended period and achieving a material quantity of lithium product in excess of a required purity threshold, which was verified by a third party.
The Company has agreed to acquire the Central Clayton Valley Lithium Brine Project for compensation of one hundred fifteen thousand in cash, which covers BLM fees and staking costs, and the issuance of seven million shares that carry a four-month hold, payable on closing. This acquisition is subject to all regulatory approvals.
Qualified Person
The technical contents of this release were reviewed and approved by Frank Bain, PGeo, a director of the Company and qualified person as defined by National Instrument 43-101.
About Cruz Battery Metals Corp.
Cruz currently has several battery metals focused projects located in the USA. Cruz’s Nevada lithium projects consist of the 4,938-acre ‘Solar Lithium Project’, the 240-acre ‘Clayton Valley Lithium Brine Project’, and the recently acquired 580-acre ‘Central Clayton Valley Lithium Brine Project’. Cruz also has the 124-acre ‘Idaho Cobalt Belt Project’. Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the Company’s properties.
If you would like to be added to Cruz’s news distribution list, please send your email address to info@cruzbatterymetals.com
Cruz Battery Metals Corp.
“James Nelson”
James Nelson
President, Chief Executive Officer, Secretary and Director
For more information regarding this news release, please contact:
James Nelson, CEO and Director
T: 604-899-9150
Toll free: 1-855-599-9150
E: info@cruzbatterymetals.com
W: www.cruzbatterymetals.com
Twitter: @CruzBattMetals
toastturtle
4 months ago
$BKTPF just had news regarding their Spin-out. It is expected to close quickly. News below.
CRUZ ENTERS INTO ARRANGEMENT AGREEMENT FOR SPIN-OUT OF HECTOR SILVER-COBALT PROJECT
Further to its news release dated Aug. 1, 2024, Cruz Battery Metals Corp. has entered into an arrangement agreement dated Sept. 5, 2024, with its wholly owned subsidiary, Makenita Resources Inc., pursuant to which the company intends to: (i) transfer all of its rights, title and interest in and to its Hector silver-cobalt project, consisting of 126 contiguous unpatented mineral claims totalling 2,243 hectares (5,542 acres), located within the Coleman and Gillies Limit townships, Larder Lake mining division, Timiskaming district, Ontario, Canada; and (ii) spin out all of the securities of Makenita received in consideration for the Hector property to Cruz's securityholders on a pro rata basis, all pursuant to a statutory plan of arrangement to be effected under Part 9, Division 5, of the Business Corporations Act (British Columbia) (the BCBCA).
The arrangement will result in Makenita becoming a separate reporting issuer in each of Alberta, British Columbia and Ontario and will allow it to focus on the development of the Hector property. The Hector property will be Makenita's material property for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects. The company will focus on the development of its Solar lithium project and Clayton Valley lithium project in Nevada, and its Idaho Cobalt Belt project and Idaho Star cobalt project in Idaho (collectively, the U.S. properties) and intends to seek to acquire more advanced assets of business opportunities of merit.
The transaction
The arrangement will include a transfer of the Hector property to Makenita, a share capital reorganization of Cruz and a securities exchange whereby, among other things, Cruz's shareholders will receive Makenita spinout shares. The existing common shares in the capital of Cruz will be renamed and redesignated as Class A common shares and Cruz will create a new class of voting common shares. Each Cruz Class A share will be exchanged for one new Cruz share and 0.1 of a Makenita spinout share. As part of the arrangement, all outstanding Cruz stock options, warrants and restricted share units will be adjusted to allow holders to acquire, upon exercise, new Cruz shares and common shares of Makenita in amounts reflective of the relative fair market values of Cruz and Makenita at the effective time of the arrangement.
On completion of the arrangement, Cruz shareholders and holders of Cruz stock options, warrants and restricted share units will maintain their interest in Cruz and will obtain a proportionate interest in Makenita.
In connection with the arrangement, Makenita intends to seek a listing of the Makenita shares on the Canadian Securities Exchange (CSE). Additionally, Makenita will undertake one or more offerings of securities to raise gross proceeds of approximately $500,000, or such other amount as the board of directors of Makenita may determine, to, among other things, finance its exploration activities on the Hector property and to finance its working capital requirements. Jason Gigliotti will be the president of Makenita. Certain insiders of Cruz may participate in the Makenita financing.
Approvals
The company intends to obtain an interim order from the Supreme Court of British Columbia to authorize the company to call a shareholder meeting to, among other things, approve the arrangement. The arrangement will be subject to, among other conditions, final court approval, approval by not less than two-thirds of the votes cast at the special shareholder meeting of Cruz shareholders and approval of the CSE.
The arrangement is anticipated to be completed by the end of the third quarter of 2024, subject to receipt of the aforementioned approvals and satisfaction of other closing conditions.
Additional details of the arrangement and other matters to be transacted at the meeting will be included in an information circular to be prepared and delivered to the Cruz shareholders in connection with the meeting.
For more information on the arrangement, please see the company's news release dated Aug. 1, 2024.
James Nelson, president of Cruz, stated: "This is a great deal for current and future shareholders of record of Cruz. Cruz shareholders of record will receive free shares of Makenita and still maintain full ownership of their Cruz shares as well. In order to receive the Makenita shares, you must be a shareholder of record of Cruz. This record date is expected to be announced shortly. This is truly a win-win for Cruz shareholders of record."
toastturtle
2 years ago
$BKTPF Cruz Intersects Targeted Potential Lithium Bearing Clays in Every Hole of Phase-3 Drill Program on the Solar Lithium Project in Nevada, Directly Bordering American Lithium Corp.
Frank Bain, the on-site PGeo and a director of Cruz Battery Metals, stated, "The four completed core drill holes all intersected potential lithium bearing clays with one hole intersecting more than 500 feet of green and black clays, shales and siltstone of the Siebert Formation. The Siebert Formation is the same host rock for the lithium mineralization found on the Solar Lithium Project and on American Lithium Corp.'s TLC discovery that is adjacent to Cruz Battery Metals."
The 'Solar Lithium Project' directly borders American Lithium Corp.'s TLC project. On December 1, 2022, American Lithium Corp. announced an updated resource estimate, prepared by Stantec Consulting Ltd., for the TLC lithium claystone property containing 8.83 million tonnes lithium carbonate equivalent (LCE) measured & indicated with another 1.86 million tonnes LCE inferred. Cruz Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the Company's properties.
https://www.stockwatch.com/News/Item/Z-C!CRUZ-3369919/C/CRUZ
MasterBlastr
4 years ago
March 23, 2021 – Cruz Cobalt Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A2DMG8) (“Cruz” or the “Company”) wishes to report on recent activities in Clayton Valley, Nevada. On March 18, 2021, Schlumberger New Energy Venture (SLB—NYSE) “announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy. The deployment of the pilot plant will be in Clayton Valley, Nevada, USA. The NeoLith
Energy sustainable approach uses a differentiated direct lithium extraction (DLE) process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. This innovative process can create new market opportunities for lithium extraction and battery manufacturing economy
and maximize the value of the lithium-rich resource base in Nevada with cutting-edge extraction technology.
The pilot plant’s deployment is part of the Pure Energy Minerals agreement with Schlumberger New Energy for the development of its Nevada lithium brine property, using advanced technology to process the brine and extract high purity lithium, maximizing the lithium resource recovery. Commissioning of the pilot plant will begin following receipt
of all necessary permits. NeoLith Energy intends to begin operations before the end of 2021.” Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the Company’s properties.
James Nelson, President of Cruz states, “Cruz is in a unique position to potentially capitalize on both our lithium and cobalt assets, at a time when the demand for battery metals is extraordinarily strong with zero signs of weakening. The recent news from energy behemoth Schlumberger about moving forward with this pilot plant for lithium is one of
the most significant developments to date in Clayton Valley, Nevada. Cruz maintains a footprint in the Clayton Valley and is one of the few companies to have property in the deepest section of the brine deposit (see map) that Pure Energy and Schlumberger have an agreement on. The Clayton Valley of Nevada is the preeminent lithium address in North America and Cruz has one of the most strategically located properties in the deepest section of the only brine producing basin in North America. Cruz is very encouraged by the renewed focus on lithium in Nevada and the fact that lithium prices have increased by over 100% since December 2020 , as well as the fact that cobalt prices are currently at 3-year highs. On the cobalt front, Cruz continues to formulate work plans for our large land package in the historic silver-cobalt producing region of Cobalt, Ontario. Cruz is well funded with approximately $1.5 million in
the treasury, including flow-through funds, which enables the Company to start operations shortly. Management is confident that 2021 will continue to be a transformative year for Cruz.”
About Cruz Cobalt
Cruz currently has twelve projects located throughout North America, comprising five in Ontario, four in British Columbia, two in Idaho, and one in Nevada. Cruz’s five separate Ontario projects are all located in the vicinity of the town of Cobalt, making Cruz one of the largest landholders in this historic silver-cobalt producing district. Cruz’s
Ontario projects, which are prospective for Cobalt, diamonds and silver include the 1,525-acre Coleman cobalt project, the 988-acre Johnson cobalt project, the 6,146-acre Hector cobalt project, the 1,458-acre Bucke cobalt project and the 1,453-acre Lorraine cobalt project. The company’s BC projects include the 1,542-acre War Eagle cobalt project, the 2,552-acre Larry diamond project, the 5,572-acre Jax diamond project, and the 1,529-acre Mark diamond project. Cruz’s USA projects include the 2,211-acre ‘Idaho Cobalt Belt Project’, the and the 80-acre ‘Idaho Star Cobalt Prospect’, and the 240-acre ‘Clayton Valley Lithium Prospect’ in Nevada. Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the Company’s properties.
If you would like to be added to Cruz's news distribution list, please send your email address to info@cruzcobaltcorp.com
Cruz Cobalt Corp.
“James Nelson”
James Nelson
President, Chief Executive Officer, Secretary and Director
For more information regarding this news release, please contact:
James Nelson, CEO and Director
T: 604-899-9150
Toll free: 1-855-599-9150
E: info@cruzcobaltcorp.com
W: www.cruzcobaltcorp.com
Twitter: @CruzCobalt